I don't think anyone at this point doubts that it's going to be a pretty powerfull machine. The main question now is how it matches against the next Xbox.
I think Planetside 2 will be preinstalled on every PS4. This way it will reach a largest audiance and maybe more important Sony can put on the box that the PS4 is bundled with a free game! Which is kinda a cheap trick as it is free already, but if I were Sony I wouldn't hesitate.
They will be close, same situation of PS3 and 360.
One will be better at certain things that the other. Still PS4 would be in good position with a more powerful GPU and a big pool of really fast memory.
I don't believe in magic, so I guess that Durango could have a few extra modules to offload specific tasks (like sound, Kinect 2.0 etc) and compensate the difference in pure raw power.